law questions
Need to know the basic business law and how to recognize legal issues.
there are 5 questions in the word doc, please answer them
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Question 1
The philosophical approach to profit maximization emphasizes the maximization of resources for profit growth. According to Friedman’s theory, the corporate executives are mandated to maximize organizational revenues for its investors as they are the rightful owners of the organization. Besides, the investors have delegated powers to the executives thereby obligating them to maximize resources for profit growth. This highlights that the corporate executive answer to the investors and not the society. Comparatively, the philosophical approach to corporate social responsibility emphasizes welfare maximization whereby social welfare should be maximized to the highest standards possible. With this, organizations participate in activities that protect the community’s well-being.
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